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Al Attiyah Keeps Sizable Lead in Dakar Rally; Saudi Officials Find ‘No Criminal Suspicions’ in Last Week’s Blast
- January 10,2022
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- SUSTG Team
Qatar’s Nasser Al-Attiyah kept a sizable lead going in the Dakar Rally as it enters its second week, as Sebastien Loeb moved back into second place with a stage victory at the start of week two in Saudi Arabia on Sunday, according to Reuters.
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The 966 Talks Energy, Renewables, and Climate with Energy Expert Kate Dourian
- January 5,2022
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- SUSTG Team
The 966’s introduces its first topical discussion format with energy expert Kate Dourian, non-resident fellow at the Arab Gulf States Institute in Washington and contributing editor at MEES, the Middle East Economic Survey. Kate is also a former editor and veteran journalist covering energy and more in the region for Reuters and Platts. Kate joins […]
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White House Says it Welcomes OPEC+ Decision to Stick to Planned Output Increase
- January 5,2022
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- SUSTG Team
The White House on Tuesday welcomed a decision the OPEC+ group of oil producers led by Saudi Arabia to stick with their plans to raise crude production, and touted “close” coordination with Saudi Arabia and the United Arab Emirates, according to Reuters.
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Report: OPEC+ Expected to Increase Output in February as Planned — Reuters
- January 3,2022
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- SUSTG Team
Three sources from OPEC+ told Reuters Monday that the group is likely to stick with planned increases in production in February, meaning the group foresees a mild and short-lived impact on demand from the Omicron coronavirus variant.
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The 966 Episode 19: Saudi Arabia’s ‘Nitaqat’ Reforms and Doing Business in Riyadh with Guest Chris Johnson
- December 31,2021
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- SUSTG Team
Episode 19 of The 966 weekly podcast with special guest Chris Johnson, managing attorney, Johnson & Pump and Chairman, MECACC & KKR Saudi Arabia. Chris is a resident of Riyadh and, along with his legal work, publishes a terrific weekly newsletter. The hosts and Chris discuss a handful of topics including Nitaqat in Saudi Arabia, […]
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Saudi Arabia’s PIF to Purchase Italy’s Financially-Distressed Inter Milan FC – Report
- December 29,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) is in the final stages of acquiring a majority stake in one of Italy’s top football clubs, Inter Milan, according to reports.
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Shrugging off Omicron Threat, Oil Rallies Near $80 on Brent
- December 28,2021
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- SUSTG Team
Oil prices extended gains on Tuesday December 28th, with Brent crude trading near $80 a barrel despite the rapid, worldwide spread of the Omicron coronavirus variant. WTI also continued a months-long rally, rising to $76.28. U.S. crude oil prices hit a high of $86.40 per barrel in October this year.
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A Special Holiday Edition of The 966: Extended ‘Yallah’ Conversation Covering 10 Top Storylines in Saudi Arabia This Week
- December 24,2021
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- SUSTG Team
The 966 kicks off the holiday season with a special edition of the weekly format. The hosts discuss airport takeovers, Soundstorm, The PGA’s standoff with a new Saudi-backed challenger league, the Jeddah Central project, Omicron in Saudi, and more.
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Saudi Arabia Accelerates Efforts to Boost Local Startup Growth
- December 23,2021
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- SUSTG Team
Saudi Arabia will accelerate efforts to boost local startup growth and develop Saudi Arabia’s entrepreneurship ecosystem with significant investments by the Public Investment Fund (PIF) into local startups in 2022, according to reports.
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Saudi Arabia Plans PIF Takeover of Airport Operators with Eyes Toward Privatization
- December 21,2021
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- SUSTG Team
Saudi Arabia plans to convert its airport operators into holding companies and transfer them to the Public Investment Fund (PIF), according to a Reuters report, citing Abdulaziz Al-Duailej, the head of Saudi Arabia’s General Authority of Civil Aviation. Some of the new companies may eventually be privatized, according to Al-Duailej.
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EU to slap human rights sanctions on Iran, warns of more over Ukraine
The European Union prepared to slap sanctions on Iran on Monday over a human rights crackdown and several ministers warned of separate, new sanctions if Tehran's involvement in Russia's war on Ukraine was proven. The EU ministers are set to impose travel bans and freeze the assets of some 15 Iranians involved in the government crackdown that began last month against demonstrators outraged by the death in police custody of 22-year-old Mahsa Amini.
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EU ministers to discuss Iran drones to Russia, future sanctions – sources
European foreign ministers will on Monday discuss the transfer of Iranian drones to Russia and could come to a political agreement on future sanctions related to such activity, two diplomats said on Friday. Ukraine has reported a spate of Russian attacks using Iranian-made Shahed-136 drones in recent weeks. Iran denies supplying the drones to Russia, while the Kremlin has not commented.
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General headscarf ban at work is OK, Europe’s top court says
EU companies can ban headscarfs as long as it is a general prohibition that does not discriminate against employees, Europe's top court said on Thursday, the latest ruling on an issue that has divided Europe for years. The case concerned a Muslim woman who was told she could not wear a headscarf when she applied to do a six-week work traineeship at a Belgian company.
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How Iran can help Europe end gas reliance on Russia
However, according to the IMF, “Alternative sources could replace up to 70% of Russian gas, allowing Europe to avoid shortages during a temporary disruption of around 6 months.” At the same time, the IMF in June also cautioned that “a longer full shut-off of Russian gas to the whole of Europe would likely…produce very high prices and significant shortages…with parts of Central and Eastern Europe most vulnerable.”
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Saudi Arabia on track to open region’s first carbon-neutral airport
Saudi Arabia's The Red Sea Development Company has confirmed Irish company daa International as operator of its Red Sea International Airport that is set to open in 2023. TRSDC will work with daa International on the airport, which is set to become the region's first carbon-neutral airport. Red Sea International will be fully powered by renewable energy. The cost of operations and general maintenance is expected to be 1 billion Saudi riyals ($266.3m).
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Huawei reaffirms dedication to aid Saudi Arabia’s shift toward carbon neutrality
Under the Saudi Green Initiative, the Kingdom aims to cut carbon emissions by over 270 million tons per year in order to achieve net-zero emissions by 2060. The initiative, launched in 2021, will see investments of more than $183.63 billion, Crown Prince Mohammed bin Salman said in recorded remarks last October.
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Analysis: Russia and Saudi Arabia’s oil production cut is pre-emptive strike on EU’s price cap scheme
The EU leaders are meeting in Prague now and are expected to come out with some more details of the oil price cap deal tomorrow. What is being proposed is to change the oil market from the quintessential commodity market, where the OPEC+ cartel can control prices by pressing or braking the production throttle, to a regulated market where the G7 can arbitrarily set the prices a producer gets.
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Analysis: Russia and Saudi Arabia’s oil production cut is pre-emptive strike on EU’s price cap scheme
The EU leaders are meeting in Prague now and are expected to come out with some more details of the oil price cap deal tomorrow. What is being proposed is to change the oil market from the quintessential commodity market, where the OPEC+ cartel can control prices by pressing or braking the production throttle, to a regulated market where the G7 can arbitrarily set the prices a producer gets.
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Saudi Greece relations take off as key EU nation embraces Kingdom’s opportunities
Richard’s one big thing is a deep dive on Saudi-Greece relations of late and why that bilateral relation is one to watch. Crown Prince Mohammed bin Salman has now visited twice this year, and both G2G and B2B relations between the nation have seen a significant increase in activity.
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Saudi Arabia to host World Petroleum Congress in 2026
Kingdom of Saudi Arabia is set to host energy leaders from all over the world after the organizational committee of the World Petroleum Congress named Riyadh as the venue for the 25th edition of the event. The event, which is held every three years, will bring together representatives from governments, other sectors, non-governmental organisations and international institutions to the kingdom’s capital.
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